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PODCAST
Eat, Sleep, Invest
Show Notes
Thanks for joining us on another episode of Eat, Sleep, Invest. In this episode, Tim Herriage joins Bryan Driscoll to discuss the function and importance of lenders for real estate investors. Tim has worked in investing for over twenty years. He buys houses in the Dallas area, owns Airbnbs, has multifamily units, and is the Executive Director of RCN Capital. The company provides loans for investors in 46 states.
Since Tim is an investor and lender, he understands everything from investing for big companies and smaller investors just getting started. He shares examples and real-life experiences about many facets of having a business. Time and Bryan talk about:
- How Tim’s company sets up tiers for borrowing money for investments
- The importance of dealing with a lender and other service providers who will communicate in ways your feel comfortable with and that are efficient
- Common problems and scenarios in which the lender will likely turn down the loan
- Why coming prepared and knowing your credit score can help you get a lender
- How getting rejected for a deal can be a sign that you should not go through with the deal because it won’t be profitable
- Examples of how mistakes will be made, but you can work through the situation with your lender when you are open and honest
- Stretching yourself by trying new things to keep life interesting and challenge yourself
- Why ending with your why and living the balanced life you want is an integral part of having a business
- The importance of diversifying your business and building a team to free up your time and slow down the hustle, so you don’t burn out
- The difference between investing in the future and flipping to have the money to do all the other things you are passionate about
- The types of loans investors can get for getting different types of properties
- The basic requirements for getting a loan from RCN Capital
Learn more:
RCNCaptial.com
Call or text: 214-291-7150
Bryanbbq.com